EQT's acquisition of rival producer Range Resources this week marks the latest consolidation in the natural gas industry, as producers are scrambling to lock in supply to feed growing demand for liquefied natural gas exports and power demand. Canonsburg, Pennsylvania-based EQT said on Monday it will buy Fort Worth, Texas-based Range Resources in a $13 billion all-stock deal that will create the nation's biggest gas producer. EQT is the second-largest natural gas producer in the US. "The [Read more]
Phillips 66 beats quarterly profit estimates as refining margins soar
Phillips 66 beat Wall Street estimates for third-quarter profit on Wednesday, helped by higher refining margins as ongoing tensions in the Middle East boosted demand for US fuel exports. US refiners have emerged as key beneficiaries of disruptions in Russia, China and the Middle East that tightened global supplies, while utilization has averaged more than 95% of capacity from May through September. The company’s refining segment reported a sharp jump in adjusted earnings to $6.06 billion [Read more]
US regulator proposes new rules to speed up LNG projects
A US regulator proposed new rules on Wednesday to hasten liquefied natural gas projects and expand export capacity as part of the Trump administration's larger push to speed up energy infrastructure development and cut costs for consumers. The US is the world's largest LNG exporter and expected to add another 100 million metric tons to its production by the end of the decade. LNG has been at the center of US President Donald Trump's energy dominance agenda since his return to office. He [Read more]
Qatari mediators present Iran with new deal to end the war, official says
Qatari mediators presented Iran with a new draft deal on Sunday to end the war with the US and Israel, and Tehran is expected to send a response to the draft by the end of the week, an official briefed on the negotiations said on Wednesday. The new draft being considered by Iran sets a seven-day timeline addressing both Tehran's and Washington's concerns, laying out daily confidence-building steps that each side must take, the official said. The timeline could begin early next week and [Read more]
Oil rises over 1% after Saudi Arabian refinery attack reignites supply risk
Oil prices climbed more than 1% on Wednesday after an attack on a refinery in Saudi Arabia renewed concerns around supply risks from the major exporter. Brent crude futures gained $1.59, or 1.4%, to $115.47 a barrel as of 0435 GMT. US West Texas Intermediate crude rose $1.43 or 1.4% to $101.33. Yemen's Iran-aligned Houthis said on Tuesday they had hit Saudi Arabia's biggest oil refinery with a missile, intensifying their strikes against the world's second-largest crude producer. Saudi [Read more]
Trump promotes oil production in Texas, where Democrats dream of breakthrough
President Donald Trump campaigned in the traditionally solidly Republican state of Texas on Tuesday, seeking to boost US Senate candidate Ken Paxton and other party members and fend off what could be the first statewide Democratic victory in 32 years. With high fuel prices weighing heavily on the campaign for November 3 congressional elections, Trump scheduled a pair of stops at opposite ends of the oil-producing state. He appeared before a tanker containing Venezuelan crude in the Gulf of [Read more]
Natgas producer Expand Energy tops quarterly profit estimates
Top US natural gas producer Expand Energy surpassed Wall Street expectations for third-quarter profit on Tuesday, boosted by higher natural gas output. U.S. natural gas consumption is expected to hit record highs, driven by LNG exports and power demand from AI data centers. Shares of the company were up 1.5% in extended trading. For the quarter ended September 30, the company's natural gas production averaged about 7.54 billion cubic feet equivalent per day, up from about 7.33 Bcfe/d a [Read more]
US energy firms to produce record natgas in 2026 as global demand soars
US energy companies expect 2026 to mark a second consecutive year of record natural gas production, as global demand for liquefied natural gas exports and fuel to power massive data centers grows. Three of the biggest US gas producers — Expand Energy, EQT and Range Resources — will report third-quarter earnings after the market close on Tuesday. All three companies have signaled they will spend roughly the same or less in 2026 as last year while squeezing more gas from the ground, positioning [Read more]
Trump to roll back methane rules in latest Texas campaign push
President Donald Trump will use a campaign swing through Texas on Tuesday to announce a plan to ease methane rules for oil and gas producers, seeking to show voters he is working to bring down gasoline prices a week before the midterm elections. The move is the latest in a string of pre-election steps by Trump to address fuel prices, which have become a political liability for Republicans amid the war with Iran. By pairing the methane rollback with rallies for his hand-picked Senate candidate [Read more]
Canada takes a page from the Saudi oil playbook: Bousso
After years of debating how quickly to reduce its dependence on fossil fuels, Canada is now looking for ways to produce and export more of them. The shift is being driven by two geopolitical shocks, both courtesy of US President Donald Trump. First, there’s the tariff war kicked off at the beginning of Trump’s second term, which exposed the risks of overreliance on any one trading partner. Then there’s the US war with Iran, which reminded energy importers of the dangers of depending too [Read more]
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